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Our experts share their experiences and tell you about the latest trends in business expense management through Jenji's resources!

Expense reporting: which method to use?

As you may know, there is no particular established method for creating expense claims. The law has no specific conditions, and each company is free to create its own expense reporting template. However, without there being any standard template or dedicated solution, entering expense claims can be a long and tedious process, both for employees gathering and submitting their supporting documents and for accountants collecting and sorting the receipts. 

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"More than 45% of businesses still use a manual-based expense reporting system in Asia Pacific"

We were delighted to give an interview for "FUTURECFO", a platform for the current and next generation of finance leaders and professionals. Our Head of APAC, Chee Leong Lee, explained how companies embarked on their automation journey in the thick of the pandemic. How COVID influenced the expense management system? Why do companies implement hybrid working models? How to transform your data into a profit center? This and much more you can find in the following article.

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Discretionary Expense

What is a discretionary expense? Expenses, whether for potential audits or to save money. The term discretionary expense indicates a cost that is not essential to the functioning of a business or organization. In a corporate or organizational environment, this kind of expense is associated with improving standing with customers, clients, and/or employees, and is often considered important for long-term profitability. However, it remains a type of spending that is not strictly necessary, meaning that the business could still function even if all discretionary spending stops. A business or organization has the “discretion” or choice when it comes to this kind of expense, for example, meals at restaurants or entertainment costs. It is important to have an efficient system for filing and tracking these and other kinds of expenses.

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Expense management in the age of remote work

In 2019, home office arrangements applied to around one out of five employees worldwide but COVID-19 has left many companies no choice: in an effort to gain control over a global pandemic, offices around the world shut, forcing employees to work from home.¹ Not just as a crisis response, work performed from home is an increasing trend, yet companies struggle with the transition.

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The weak points of Excel for corporate finance processes

When we look at the history, MS Excel was released by Microsoft way back in 1985 and it is fair to say that Excel has transformed the world of accounting and business in that time. But since then the world has changed dramatically and according to the Wall Street Journal, a lot of large companies are phasing out Microsoft Excel nowadays¹. CFOs of such companies like Adobe or ABM Industries complain that their employees take too much time to work with Excel accounting spreadsheets.

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